WhiteHorse Finance, Inc. Announces Third Quarter 2024 Earnings Results and Declares Quarterly Distribution of $0.385 Per Share

NEW YORK, Nov. 7, 2024 /PRNewswire/ -- WhiteHorse Finance, Inc. ("WhiteHorse Finance" or the "Company") (NASDAQ:WHF) today announced its financial results for the quarter ended September 30, 2024. In addition, the Company's board of directors has declared a distribution of $0.385 per share with respect to the quarter ended September 30, 2024. The distributions will be payable on January 3, 2025 to stockholders of record as of December 20, 2024.

Stuart Aronson, WhiteHorse Finance's Chief Executive Officer, commented, "I am pleased to report that WhiteHorse generated another quarter of core net investment income in excess of our regular dividend despite some company-specific challenges in our portfolio. We are working to optimize the outcomes for these specific credits, and the balance of our portfolio is generally stable and performing well. Although the broader lending market remains aggressive, we continue to see opportunities and source deals in areas of the market where there is less competition.  Based on current market terms and conditions, we remain focused on certain segments of the lending market where we believe we have a competitive advantage and are selectively investing in credits with positive free cash flow, limited cyclicality, and strong owners. This is consistent with the rigorous underwriting standards that we adhere to regardless of market conditions."

Summary Information as of September 30, 2024 and June 30, 2024 (unaudited): 

Three Months Ended

Three Months Ended

Change

($ in thousands except per share data)

September 30, 2024

June 30, 2024

$

%

Total investment income

$

22,851

$

23,482

(631)

(2.7)

Total expenses, including excise tax

13,697

14,190

(493)

(3.5)

Net investment income and core net investment income(1)

9,154

9,292

(138)

(1.5)

Net investment income and core net investment income(1) per share

0.394

0.400

(0.006)

(1.5)

Distributions per share

0.385

0.385

-

-

Net realized gains (losses)

39

(93)

132

(141.9)

Net unrealized appreciation (depreciation)

(16,051)

(1,360)

(14,691)

1,080.2

Net increase (decrease) in net assets resulting from operations